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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
NeoPhotonics (NYSE:NPTN) designs and makes photonic integrated circuits (PICs). These PICs are used in bandwidth-intensive and high speed communication networks. NeoPhotonics sells a broad range of products which allow for different speeds of transmission or can dynamically distribute bandwidth to adjust for changing patterns. The company's PIC-based components are sold to a broad range of equipment vendors. In 2009, NeoPhotonics sold equipment to the top 12 vendors which together supplied 90% of the global market for optical network hardware.[1]
Demand for NeoPhotonics products is heavily associated with demand for high bandwidth and high speed communication. As a result, the increase usage of cloud-based services, IP-based video, video and music streaming, and others have bolstered the demand for improved network speeds and capabilities. According to Cisco's Visual Networking Index, the worldwide IP traffic increased by 45% in 2009. The worldwide IP traffic is expected, according to Cisco, to grow by a compounded annual growth rate (CAGR) of 34% from 2010 until 2014.[2]
The company's initial public offering of stock on the NYSE occurred on February 1, 2011. The company offered 7.5M shares each for $11. This was at the high end of the initial range of $9-$11. This brought the final deal to $83M. The lead underwriters of the IPO were BofA and Deutsche Bank AG (DB).[3]
NeoPhotonics announced a 2009 full year revenue of $155M or a 16% increase over the 2008 full year revenue of $134M. The company's revenue for the first 9 months of 2010 was $133M, 19% above the 2009 revenue for the same period. In 2009, the company reported a net loss for the full year of $6.8M. For the first 9 months of 2010, the company reported a net income of $2.9M. [4]
References
- ↑ NPTN S-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1
- ↑ NPTN S-1/A 2011 PROSPECTUS SUMMARY "Industry Background" pg 1-2
- ↑ Renaissance Capital - IPO Home "NeoPhotonics prices IPO at $11 and issues more shares" 2 Feb 2011
- ↑ NPTN S-1/A 2011 PROSPECTUS SUMMARY "SUMMARY CONSOLIDATED FINANCIAL DATA" pg 7
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